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Getting a new car or truck without help from a loan or lease is pretty unusual these days. Many times, your car loan package will be arranged in the F&I office, but this can be a very time consuming process. Why would you waste time applying for financing at the lender or dealership when you can apply right now through our site?

You could be behind the wheel of a new car tomorrow.

Auto Finance Rates in Des Moines

The interest rates below aren’t anything but estimations to give you an idea of what rate can be expected given where you are and your FICO score. The rate you’re offered may vary substantially from what you see here.

Credit Rating New Car Pre-owned Car
Excellent 3.4% 3.4%
Good 5.1% 4.6%
Average 6.7% 7.1%
Subprime 9.4% 9.8%
Bad 12.8% 12.4%
Very Bad NA 12.4%

Used Car Financing in Des Moines

By and large, companies charge slightly higher interest rates for pre-owned cars and trucks. However, used vehicles are more economical in the end, and they depreciate less. Take a look at the numbers below.

Age Price Rate Months Payment Interest Total Cost
New $27,500 6.00% 60 $531.65 $4,399 $31,899
1 Year $22,000 7.50% 60 $440.83 $4,450 $26,450
2 Years $18,700 7.50% 60 $374.71 $3,783 $22,483
3 Years $15,895 7.50% 60 $318.50 $3,215 $19,110

A second hand vehicle is a great option, whether you’re financing or not. Here are the most popular limits on used car loans:

  • Car no older than 7-10 years.
  • Mileage no higher than 100,000 miles.
  • Purchased from dealer, not private party.

Poor Credit Auto Loans in Des Moines

Credit history is a key factor when it comes to loan approval and interest rate. With a credit score of 680 or higher, securing an auto loan should be a breeze, but approval and annual percentage rate both become issues for people who have bad credit. Before the internet, you really had to settle for whatever APR rate and stipulations they presented you. Today, there are better methods to get financed.

If you can, you should avoid turning to a no credit check car dealership. These buy here pay here dealers are infamous for aggressive sales tactics. The annual percentage rates are very high, and the cars and trucks are likely to be price over market value.

Usually, it’s better to work with a regional bank or loan provider. An established bank or finance company will report to the credit reporting agencies, which means your credit score will improve as long as you keep making your payments as agreed.

Contact an auto finance professional in your area today.

Limiting Your Annual Percentage Rate

There are a variety of strategies to lower your annual percentage rate. First of all, you should attend to any mistakes on your credit report. A lot of people don’t realize that, once per year, you can check your credit report completely free via www.annualcreditreport.com. Des Moines has a variety of credit restoration agencies to help you fix these types of mistakes, or you can file the dispute all by yourself. If you haven’t got a favorable credit record, adding a cosigner could contribute to a more economical interest rate.

Zero Down Financing in Des Moines

Are you looking to buy a car or truck with zero money down? The truth is, getting a car financed with no down payment is in some cases impossible. By completing an application online, you may boost your odds of securing this sort of a deal. Banks and dealerships can view what you want your down payment to be upfront.

Des Moines Resources

Credit Unions

Credit UnionAddressZipPhone
A - E Employees2201 E University Ave50317(515) 262-7371
Affinity475 NW Hoffman Ln50313(515) 288-7225
Affinity4600 NW 2nd St50313(515) 243-4464
Affinity1700 E Army Post Rd50320(515) 287-0036
Capitol View1000 E Grand Ave50319(515) 725-2167
Capitol View150 Des Moines St50309(515) 281-9047
Community Choice Credit Union700 Lyon St50309(515) 243-0994
Des Moines Fire Department900 Mulberry St50309(515) 288-2521
Des Moines Metro100 College Ave50314(515) 283-4195
Des Moines Metro700 E University Ave50316(515) 263-5651
Des Moines Metro Credit UnionIowa Lutheran Hospital 700 E University Ave50316(515) 263-5651
Des Moines Police Officers423 E Court Ave50309(515) 243-2677
Des Moines Water Works2201 George Flagg Pkwy50321(515) 282-1908
Edco Community609 38th St50312(515) 274-4100
EmcPO Box 71250306(515) 243-6289
Emc700 Walnut St50309(515) 243-6289
Emc Credit Union712 Walnut St50309(515) 243-6289
Federal Employees210 Walnut St #13250309(515) 244-1458
Federal Employees2524 Post St50310(515) 274-0939
Federal Employees Credit Union210 Walnut St50309(515) 244-1458
Financial Plus2426 Hubbell Ave50317(515) 283-2526
Financial Plus4303 Fleur Dr50321(515) 256-7955
First Class303 Euclid Ave50313(515) 224-4300
Greater Iowa600 E 30th St50317(515) 232-6310
Greater Iowa Credit Union4555 Fleur Dr50321(515) 285-1271
Polk County111 Court Ave RM 110 Administratio50309(515) 244-8647
Polk County111 Court Ave RM 11050309(515) 244-8647
Polk County Credit Union111 Court Ave50309(515) 244-8647
Premier800 9th St50309(515) 282-1611
Premier700 Locust St50309(515) 282-1611
Principal Employees' Credit Union711 High St50392(515) 247-5106
Proffittis Inc7 E Walnut St50309(515) 247-7049
The Cornerstone414 61st St50312(515) 274-2343
Three-Ten CCU1300 Cummins Rd50315(515) 287-0036
Tradesmen CommunityPO Box 149650305(515) 243-8735
Tradesmen Community2930 SE 14th St50315(515) 282-3606
Tradesmen Community1400 2nd Ave50314(515) 243-8735
United Service1212 Pleasant St #10650309(515) 241-4412
United Service1212 Pleasant St50309(515) 241-4412
Usda210 Walnut Rm 92750309(515) 243-0480
Usda Credit Union210 Walnut Street Rm 92750309(515) 243-0480
Veridian3221 SE 14th St50320(319) 236-5600
Village601 E Court Ave50309(515) 243-4400